Shares of Orrstown Financial Services Inc (NASDAQ:ORRF - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $31.82 and traded as high as $34.03. Orrstown Financial Services shares last traded at $33.67, with a volume of 211,095 shares changing hands.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods reduced their target price on Orrstown Financial Services from $40.00 to $37.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Hovde Group increased their price target on Orrstown Financial Services from $35.00 to $37.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Finally, Raymond James Financial assumed coverage on Orrstown Financial Services in a report on Thursday, April 10th. They set an "outperform" rating and a $35.00 price target for the company.
Check Out Our Latest Stock Analysis on ORRF
Orrstown Financial Services Stock Performance
The company's 50-day simple moving average is $30.84 and its 200 day simple moving average is $31.82. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.13. The stock has a market cap of $656.90 million, a P/E ratio of 17.18 and a beta of 0.79.
Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The bank reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.05. The company had revenue of $60.39 million for the quarter, compared to analysts' expectations of $51.83 million. Orrstown Financial Services had a net margin of 9.74% and a return on equity of 14.35%. During the same quarter in the previous year, the firm posted $0.88 EPS. As a group, sell-side analysts expect that Orrstown Financial Services Inc will post 4.23 EPS for the current fiscal year.
Orrstown Financial Services Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were issued a $0.26 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.09%. Orrstown Financial Services's dividend payout ratio (DPR) is presently 53.06%.
Institutional Investors Weigh In On Orrstown Financial Services
A number of hedge funds have recently modified their holdings of ORRF. Jane Street Group LLC bought a new stake in Orrstown Financial Services during the 1st quarter valued at $1,080,000. Goldman Sachs Group Inc. raised its holdings in Orrstown Financial Services by 2.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 85,047 shares of the bank's stock valued at $2,552,000 after acquiring an additional 2,417 shares during the period. Millennium Management LLC raised its holdings in Orrstown Financial Services by 123.8% during the 1st quarter. Millennium Management LLC now owns 330,322 shares of the bank's stock valued at $9,913,000 after acquiring an additional 182,709 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Orrstown Financial Services by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank's stock valued at $330,000 after acquiring an additional 490 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in Orrstown Financial Services by 82.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 54,019 shares of the bank's stock valued at $1,621,000 after acquiring an additional 24,478 shares during the period. Institutional investors own 44.27% of the company's stock.
About Orrstown Financial Services
(
Get Free Report)
Orrstown Financial Services, Inc operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States. It accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.
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